Month: December 2014

Prospero Announces $185,000 Convertible Loan

Prospero Silver Corp.announces that it has entered into a convertible loan agreement with six lenders for loans in an aggregate amount of $185,000 to fund its ongoing exploration and general working capital requirements.

Quaterra Grants Stock Options, Announces Management Change

Quaterra Resources Inc. announces the grant of 1,000,000 stock options to certain officers of the Company pursuant to the Company’s stock option plan. The options may be exercised at a price of $0.05 per share for a five-year period.

Rebasan minas verificación de Profepa

Aunque en el País existen registradas mil 252 instalaciones y proyectos mineros, la Procuraduría Federal de Protección al Ambiente (Profepa) apenas verificó 27 por ciento de las minas en 2014.

Minaurum Gold Closes Non Brokered Private Placement

Minaurum Gold Inc. is pleased to announce that it has closed a non-brokered private placement financing of 6,850,000 units at a price of $0.05 per unit for gross proceeds of $342,500. Each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional common share of Minaurum for a period of two years at an exercise price of $0.10. No finders’ fee was paid in connection with the financing. The securities issued under the offering will be subject to a four month hold period in accordance with applicable Canadian securities laws.

Geologix Completes $599,000 Convertible Note Offering

Geologix Explorations Inc. is pleased to announce it has completed a private placement with various investors of $599,000 in convertible, unsecured, 10% (interest payable every six months), three year promissory notes. Insiders provided $300,000 of the financing.

Marlin Issues Shares to Settle Deferred Contractor Payments

Marlin Gold Mining Ltd. is pleased to announce that it has issued 1.7 million shares at a deemed price of 75 U.S. cents (82 Canadian cents), in consideration of certain services provided to the company pursuant to an agreement dated December 29, 2013 between Oro Gold de Mexico S.A. de C.V. (wholly owned subsidiary of Marlin Gold) and Construcciones y Minado San Francisco S. de R.L. de C.V. The share issuance was originally disclosed in a news release dated December 10, 2014 and the shares issued therewith are subject to a four month hold period.

Golden Minerals Provides Update For Velardena Mine Restart

Golden Minerals Company today announces its initial operational performance for the Velardena mine restart in order to update the Company’s June 18, 2014 news release. The Company restarted mining operations at Velardena on July 1, 2014 and milling operations on November 3, 2014.

Kootenay closes first tranche of non-brokered private placement

Kootenay Silver Inc. is pleased to announce that, further to its press release dated December 10, 2014, it has received subscriptions for $742,000 under the non-brokered private placement of units and has today closed the initial tranche of the Private Placement and issued an aggregate of 2,120,000 Units at a purchase price of $0.35 per Unit. The Company anticipates closing the balance of the Private Placement shortly and will provide an update in due course.

DynaResource de Mexico, S.A. de C.V. Files Original Petition and Legal Demand Seeking Substantial Damages from Goldgroup Mining Inc. and Goldgroup Resources Inc.

DynaResource de Mxico SA de C.V., the 100% owner of the San Jose de Gracia Project in Sinaloa State, Mexico announces that it filed on December 09, 2014, in the Civil Court of the Superior Court of Justice of the Federal District of Mexico (Tribunal Superior de Justicia del Distrito Federal), as File number 1120/2014; an Original Petition and Legal Demand against Defendants Goldgroup Mining Inc., Goldgroup Resources Inc., and certain individuals acting in concert with the two Goldgroup companies. The Demand complains that Goldgroup has: (a) wrongfully used property, confidential information and data belonging to DynaMxico; (b) consistently failed to disclose, or has disclosed inaccurately, several matters of material importance to the public; and, the Demand seeks to declare the American Arbitration Association (AAA) proceedings in Denver, Colorado, (filed by Goldgroup), as invalid or seeks to nullify such proceedings.

Orex Announces Appointment of David Felderhof as Executive Vice President

OREX EXPLORATION INC. – The board of Directors wish to announce that Mr. David Felderhof has been appointed executive vice president of the Company, effective immediately. David is currently a director and executive vice president of Zephyr Minerals Ltd., and a former investment advisor with BMO Nesbitt Burns.

U.S. Silver & Gold Inc. and Scorpio Mining Corporation Announce Closing of Business Combination

Scorpio Mining Corporation and U.S. Silver & Gold Inc. are pleased to announce the completion of their previously announced merger of equals to combine their respective businesses by way of a plan of arrangement of U.S. Silver & Gold pursuant to section 182 of the Business Corporations Act (Ontario). The Transaction was approved at special meetings of the shareholders of U.S. Silver & Gold and Scorpio Mining, respectively, on December 18, 2014. Final court approval was obtained from the Ontario Superior Court of Justice on December 22, 2014.

Rob McEwen, Chairman & Chief Owner Exercises Stock Options in McEwen Mining

McEwen Mining announces that Rob McEwen , Chairman and Chief Owner has exercised 1 million stock options on December 19, 2014. These options were exercisable at a price of $0.91 and Mr. McEwen intends to hold these shares for investment purposes. In addition, Mr. McEwen purchased 200,000 shares in the open market on December 12, 2014.

San Marco Resources Share Consolidation Approved by Shareholders

San Marco Resources Inc. announces that a special resolution to approve the consolidation of the Company’s shares on the basis of one new share for every five old shares was passed by shareholders of the Company at a Special General Meeting held in Vancouver, BC on December 22, 2014. Of the shares voted, 96% were voted in favour of the consolidation.

Mexus Gold US Update

Mexus Gold US announced today that it is still in discussions with multiple major mining companies. There is an ongoing negotiation taking place with one company and a deal will be completed if/when terms can be agreed upon. CEO and President Paul Thompson added “Mexus is doing everything possible to complete a deal in the first part of January, 2015. I believe that a deal will be made and 2015 will prove to be the year that Mexus turns a profit.”

Northair Silver Corp. Acquires Los Cuates Gold Project, Mexico

Northair Silver Corp. and its wholly owned subsidiary Grupo Northair de Mexico, S.A. de C.V. announces that it has signed two binding agreements; one with Serengeti Resources Inc. to acquire 100% the Los Cuates gold project adjacent to its Cigarra silver deposit, located in the state of Chihuahua, Mexico; and the other with Northern Empire Resources Corp. whereby Northair will assign and transfer the El Reventon silver project located in Durango State, Mexico to Northern Empire.

Bacanora notes scoping study by Rare Earth Minerals

BACANORA MINERALS LTD. notes the announcement made today by Rare Earth Minerals plc regarding their independently commissioned and funded scoping study on the El Sauz and Fleur concessions which form a part of the Company’s Sonora Lithium Project in Sonora State in Northern Mexico. A summary of the REM Scoping Study has been provided by REM in their press release today. Bacanora has not received a copy of the REM Scoping Study and is unable to comment on the valuations, assumptions, conclusions or methodology employed in the REM Scoping Study. Bacanora commends REM for its initiative in commissioning its independent study and its efforts in supporting the continued assessment and development of the concessions that are the subject of the study.

San Marco Resources Revises Previously Announced Financing Terms

San Marco Resources Inc. announces that, as a result of changes in market conditions, the Company’s board of directors has revised certain pricing terms of the non-brokered private placement financing announced on October 24, 2014. The proposed private placement financing will still occur on a post (five into one) consolidation basis of the Company’s shares, which consolidation is subject to shareholder approval at a special meeting of shareholders being held on December 22, 2014.

Coeur Announces Initial Resource Estimate at Palmarejo’s Independencia Deposit

Coeur Mining, Inc. announced today an initial resource estimate for its high-grade underground Independencia silver-gold deposit, located approximately 800 meters east of the Guadalupe underground mine currently in production at Coeur’s Palmarejo silver-gold mine in Chihuahua, Mexico. The updated estimate was prepared with the assistance of Mine Development Associates (MDA, of Reno, Nevada and includes data from 61 core drill holes totaling 27,000 meters.

Nuevos impuestos golpean a mineras

Las empresas del sector minero en México enfrentan una mayor carga fiscal, debido a la reforma que entró en vigor este año, que incorpora nuevos derechos a la minería, los cuales restan competitividad al sector y podrían reducir las inversiones, según la Cámara Minera de México.

Santacruz Silver Announces Director Resignation

Santacruz Silver Mining Ltd. announces that Mr. James Hutton has resigned as a Director with the Company. Mr. Hutton has been with Santacruz since it completed its first public share offering in 2012. The Company is conducting a search for a replacement director which it expects to complete in early 2015.

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